Shiba Inu (SHIB) and Dogecoin (DOGE), the top two meme coins by market capitalization, have been battling for dominance since the last bull run. Now, leading electric car manufacturers Tesla and DeLorean Motors may join the fray, each backing their preferred cryptocurrency: SHIB or DOGE.
Elon Musk, founder and CEO of Tesla, has publicly endorsed Dogecoin several times, and Tesla's website accepts DOGE for purchases.
Rival carmaker DeLorean Motors has hinted that it may support SHIB payments in response to Tesla accepting DOGE. The possibility was highlighted by Lucie, marketing director at Shiba Inu, on X (formerly Twitter). If DeLorean adds this feature, it could significantly boost the adoption and popularity of SHIB.
Lucie stressed that DeLorean, a legendary name in the automotive world, “isn’t just playing around—they’re making serious moves in the electric vehicle world.” If the manufacturer backs the Shiba Inu, “this could be a game changer for both the brand and the Shib community,” Lucie added:
"The future is getting more exciting by the minute! Buckle up, Shib army—something big could be about to happen!"
According to CoinMarketCap data, the total market capitalization of the meme coin industry is $59.2 billion, up 4.7% in the last 24 hours. SHIB and DOGE dominate the industry with massive valuations of $16.9 billion and $10.7 billion, respectively.
SHIB Price Action vs DOGE
At the time of writing, DOGE is trading at $0.1158, up 2.6% over the past 24 hours and 7.94% over the past seven days. The meme coin is up 9.86% over the past month but is still down 84.33% from its all-time high of $0.7376.
On the other hand, SHIB is trading at $0.00001831, up 1.8% in the last 24 hours and 5.7% in the past week. Furthermore, Shiba Inu has surged 33.1% in the last 30 days and is up 161.5% since October 2023. SHIB is down 79.26% from its all-time high of $0.00008845.
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